Orlando, Florida, October 11, 2016 – National Retail Properties, Inc. (NYSE: NNN) (the “Company”) today announced that it has closed an underwritten public offering of 13,800,000 depositary shares, each representing a 1/100th interest in a share of its 5.20% Series F Cumulative Redeemable Preferred Stock, at a price of $25.00 per depositary share, which reflects the full exercise of the underwriters’ option to purchase 1,800,000 additional depositary shares. The Company estimates that the net proceeds from the offering will be approximately $334.3 million, after deducting the underwriting discount and estimated offering expenses. The Company intends to use the net proceeds from the offering to repay all of the outstanding indebtedness under its credit facility. The Company intends to use the remainder of the net proceeds, if any, to fund future property acquisitions and for general corporate purposes.
Click here to read the full press release.